Nigeria’s crude oil reserves now 37 billion barrels

The Nigerian National Petroleum Corporation(NNPC) disclosed on Monday that the country’s crude oil reserve now stood at 37 billion barrels.

The corporation’s spokesman, Ndu Ughamadu in a statement in Abuja, said the company would continue to find sustainable solution to insurgency in the Niger Delta which has reduced the country’s oil production.
“The corporation has created security management platforms that would enable it identify and evaluate risks, develop and superintend implementation of investigations.

“The platform will also aggregate and deploy necessary resources to guarantee peaceful business environment in the region,” Ughamadu said.

He said: “The corporation is committed to implementing a robust security and stakeholders’ strategy that would ensure that peace reigned in the industry operational areas.

Ughamadu said the Group Managing Director,Dr Maikanti Baru “ attributes the recent increase in the country’s oil and gas reserves to 37 billion barrels and 192 trillion cubic feet, respectively, to the relative peace that was instituted in the Niger Delta.”